I · Wealth & Retirement
Investment advice for the long arc of a life.
We help individuals and families invest with a plan — and for qualified clients, we put our own fee at risk every year. We’re also expanding into comprehensive retirement solutions, including the ability to hold private assets in tax-advantaged retirement accounts.
Our fee is at risk · For qualified clients
Our fee is on the line, every year.
Each calendar year, we aim to deliver at least twice our advisory fee in value — through returns above the index, or through taxes we save you. If we fall short, our fee shrinks in proportion, all the way to zero. And because we bill in arrears, a fee we haven’t earned never leaves your account.
Our annual advisory fee, charged on assets under management.
The value we aim to deliver each calendar year: at least twice what you pay us.
How far our fee can fall in a year we come up short.
How we count value
Returns above the index
Each account is measured against a blend of the S&P 500 for equities and the S&P U.S. Treasury Bond Index for fixed income, weighted to that account’s allocation.
Taxes saved
Taxes our tax-aware investing decisions save you, counted alongside returns above the index.
Billed in arrears, settled every year
At year-end we add it up and show you the math. If the total is short of twice our fee, the fee is reduced in proportion before it is ever charged — as far as zero.
Who it’s for
Clients who meet the SEC’s definition of a qualified client — generally, at least $1.4 million invested with us, or a net worth above $2.7 million, not counting your primary residence.
| Value we deliver | Your fee |
|---|---|
| $30,000 or more | $15,000 |
| $22,500 (75% of target) | $11,250 |
| $7,500 (25% of target) | $3,750 |
| $0 or less | $0 |
Illustrative fee arithmetic only, not a projection of results. Value can come from returns above the blended index, taxes saved, or both.
The fee-at-risk arrangement is available only to qualified clients, as defined in Rule 205-3 under the Investment Advisers Act of 1940. Our value target is a goal, not a guarantee. Investing involves risk, including the loss of principal, and your account can lose money even in a year in which we reduce our fee. Indexes are unmanaged, do not reflect fees or expenses, and cannot be invested in directly. How value, tax savings and fee reductions are calculated is set out in your advisory agreement and our Form ADV Part 2A.
Available today
Investment advisory
Every relationship starts with your goals, your time horizon and your tax picture. From there we build and manage a portfolio, revisit it as your life changes, and explain each recommendation in plain language.
Elphinstone is an SEC-registered investment adviser and acts as a fiduciary to its advisory clients. Client accounts are held at Interactive Brokers LLC, an independent custodian. Read our Form CRS and Form ADV Part 2A.
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Portfolio construction & management
Diversified portfolios built around your goals and risk tolerance, then monitored and rebalanced.
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Financial planning
Cash flow, savings targets, education and major purchases, mapped out together.
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Tax-aware investing
Decisions about which accounts hold what, and when to realize gains or losses, made with your taxes in mind.
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Ongoing reviews
Regular check-ins, and a straight answer whenever markets or your circumstances shift.
Retirement, rebuilt — with private markets in reach.
Most retirement accounts are limited to public stocks, bonds and funds. Our upcoming retirement service pairs a complete retirement plan with the ability to hold selected private investments inside tax-advantaged accounts such as IRAs.
A complete retirement plan
When you can retire, what you can spend, and the order in which to draw from each account — modeled, then updated as life changes.
Private assets, tax-advantaged
Access to private-market investments — such as private credit, private equity and real estate — held in self-directed IRAs at an independent qualified custodian.
Consolidation & rollovers
Old 401(k)s and scattered IRAs brought under one plan, with help moving assets between custodians.
How it will work
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Plan
We build your retirement plan — and decide together whether private assets belong in it at all.
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Open
Open a self-directed IRA with our custodial partner, or roll over an existing account.
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Allocate
Combine public and private holdings in proportions that fit your plan and your need for liquidity.
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Review
We monitor the whole picture and adjust as markets, rules and your plans change.
Waitlist
Be first in line.
Join the waitlist and we’ll reach out before the retirement service opens, with details on eligibility, investments and fees.
Joining the waitlist creates no obligation and is not an offer of, or a solicitation to buy, any security.
Join by email
Send us a note with your name and the accounts you’d consider — a traditional IRA, a Roth IRA or an old 401(k) — and we’ll add you to the list.
Email us to join the waitlistPlease don’t include account numbers or other sensitive information.